FIS Finalizes Metavante Acquisition

Fidelity National Information Services (Jacksonville, Fla.) has officially completed the purchase of Metavante (Milwaukee). Under terms of the merger agreement, FIS acquired all of the outstanding shares of Metavante common stock, with each Metavante shareholder receiving 1.35 shares of FIS common stock for each share of Metavante common stock held.

The combined company will be known as FIS, reflecting a "strong global financial technology brand" and reinforcing FIS' position as a global provider of payments and banking technology, said the company.

"With the completion of this strategic and transformative transaction, FIS has now enhanced its ability to deliver products and services, execute on a client cross-sales business model, and continue to grow globally," said Frank Martire, FIS president and CEO, in a statement. "We will continue to make business and product investments and we will strategically integrate our products, where it makes sense to do so in order to deliver high-value solutions to our clients and prospects."